NZD/USD: bulls stumbled across pin-bar

NZD/USD: bulls stumbled across pin-bar

2019-11-11 • Updated

Recommendation: BUY 0,7045 SL 0,6990 TP1 0,715 TP2 0,723. 

On the NZD/USD daily chart, bulls hit an intermediate target 127.2% of the Deep Shark pattern. Then, there was a rollback. The formation of a pin-bar with a long shadow increases the risks for the development of the correction.

On the NZD/USD hourly chart, the "Bump and Run Reversal" and "Shark" patterns were realized. Until the Bears did not test the diagonal support of the introductory stage of the former pattern, the "bulls" retain control over the pair. Rebound from the target 88.6% in the Shark pattern will allow buyers to launch a counterattack.

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